American politicians now have three days to come to an agreement on extending the US debt ceiling before the October 17 deadline.

The instability has provoked a slump in the value of the greenback, and ANZ senior economist Justin Fabo thinks that has boosted demand for the Australian dollar.

"Our currency depreciated because people were expecting the central bank in the US to start to wind back monetary stimulus," he said.

"That's been put on hold, partly because of what's been happening with the US government shutdown and the uncertainty and the uncertainty in the short run, so we've seen a reversal of that and our currency's come back up."

CMC Markets chief market analyst Ric Spooner says the Australian dollar could be in a win-win situation regardless of whether the US makes a deal before its deadline.

"If things went wrong in the US, then at least in the short-term, we might see some strength against a weakening US dollar," he told AAP.